Major US faith-based organization to vote on divesting from 3 oil companies

By Esther Whieldon

S&P Global

April 9, 2020

The General Assembly of the Presbyterian Church (U.S.A.) is slated to weigh whether to divest from oil and gas companies in a move that sheds light on how some faith-based financial organizations face a different set of questions than other mainstream fund managers regarding divestment.

The Committee on Mission Responsibility Through Investment, or MRTI, an advisory committee that handles shareholder engagement with companies on behalf of the church, has recommended that the church exit its financial stake in Exxon Mobil Corp., Marathon Petroleum Corp. and Valero Energy Corp. until these companies' actions align with the general assembly's climate change criteria.

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